First Citizens BancShares Inc. (NASDAQ:FCNCA) major shareholder Claire H. Bristow sold 455 shares of First Citizens BancShares stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $472.05, for a total value of $214,782.75. Following the transaction, the insider now directly owns 30,000 shares of the company’s stock, valued at approximately $14,161,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Shares of NASDAQ:FCNCA traded up $4.19 during midday trading on Friday, hitting $481.96. 1,794 shares of the stock were exchanged, compared to its average volume of 40,805. The stock has a market cap of $5.20 billion, a P/E ratio of 12.42 and a beta of 1.17. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.06. First Citizens BancShares Inc. has a twelve month low of $355.18 and a twelve month high of $477.95. The company has a 50 day moving average price of $447.71 and a 200-day moving average price of $439.28.
First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Tuesday, July 30th. The bank reported $10.56 earnings per share (EPS) for the quarter. The business had revenue of $434.22 million during the quarter. First Citizens BancShares had a return on equity of 12.42% and a net margin of 25.38%.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, September 13th.
Several large investors have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can raised its stake in shares of First Citizens BancShares by 5.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 160,541 shares of the bank’s stock worth $65,153,000 after buying an additional 7,665 shares during the last quarter. Wells Fargo & Company MN raised its stake in First Citizens BancShares by 7.0% in the 2nd quarter. Wells Fargo & Company MN now owns 158,786 shares of the bank’s stock valued at $71,496,000 after purchasing an additional 10,371 shares during the last quarter. Geode Capital Management LLC raised its stake in First Citizens BancShares by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 92,838 shares of the bank’s stock valued at $35,004,000 after purchasing an additional 4,602 shares during the last quarter. AQR Capital Management LLC raised its stake in First Citizens BancShares by 14.7% in the 2nd quarter. AQR Capital Management LLC now owns 52,664 shares of the bank’s stock valued at $23,713,000 after purchasing an additional 6,759 shares during the last quarter. Finally, Eaton Vance Management acquired a new position in First Citizens BancShares in the 2nd quarter valued at about $14,955,000. 44.29% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on the company. BidaskClub raised First Citizens BancShares from a “hold” rating to a “buy” rating in a research note on Thursday. ValuEngine downgraded First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.
About First Citizens BancShares
First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides banking services to retail and commercial customers. Its deposit products include checking, savings, money market and time deposit accounts. The company's loan products portfolio comprises commercial construction and land development, commercial mortgage, commercial and industrial, lease financing, and other commercial real estate loans; and noncommercial construction and land development, residential mortgage, revolving mortgage, consumer loans, and construction and land development loans.
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